Fortress Investment Group LLC is a leading, highly diversified global investment manager with approximately $53.1 billion of assets under management as of March 31, 2021. Founded in 1998, Fortress manages assets on behalf of approximately 1,800 institutional clients and private investors worldwide across a range of credit and real estate, private equity and permanent capital investment strategies. Investment performance is our cornerstone - we strive to generate strong risk adjusted returns for our investors over the long term. For additional information on Fortress, please visit www.fortress.com.
Fortress’s Credit business was launched in 2002 by Pete Briger. Today, the Fortress Credit team consists of over 500 professionals and is focused on investing globally, primarily in undervalued assets and distressed and illiquid credit investments. With over 100 professionals dedicated to asset management in 14 geographic locations, the Fortress Credit team also has the experience and expertise to manage and service assets with operational complexity.
About the Position
Fortress Investment Group is seeking a valuations associate within its Credit Funds business. The associate will cover public or private valuations for investments in real estate, corporate debt & securities, structured finance products, and private equity investments.
· Assist in the monthly valuation of the Credit Funds’ investments.
· Coordinate the receipt of monthly valuations from pricing vendors, brokers and asset managers.
· Review quotes from brokers and pricing vendors and hold discussions with trading desk to monitor the reasonableness of quotes received.
· Review internal valuations with asset managers to understand movements in valuations.
· Assist in the on-going analysis of the portfolio by tracking significant events for each asset, reviewing valuation models, key assumptions and cash flow projections.
· Compile valuations and supporting information and prepare summary packages to be reviewed by senior management and pricing committee.
· Develop strong relationships and effective lines of communication with colleagues and third parties (including Credit Funds senior management, asset management, fund accounting, auditors, and third-party valuation agents)
- The ideal candidate will have 3-5 years of relevant experience preferably with a Valuation background or Credit Markets experience.
- Bright, quick learner, reliable, self-motivated
- Ability to take initiative and work independently, as well as work closely with fellow team members in a collaborative environment
- Exceptional attention to detail and organizational skills
- Strong written and oral communication skills
- Proficiency in Microsoft Excel is a must
- Working knowledge of Bloomberg and Wall Street Office is preferred
- Background in cashflow modeling is a plus